Euro Rate in Pakistan - EUR to PKR Exchange Rate History

Currency Rate Euro to PKR

Euro to PKR Rate

The exchange rate for Euro in Pakistan is dramatically high and it is estimated that it will keep on rising in value in future. The lowest value that Euro touched in Pakistan was around 80 Rupees many years ago. Now it has crossed 100 Rupees and still escalating in value. There are not extremely good economical and financial relations between European Union and Pakistan due to which our currency keeps on devaluing in the international market. There is not even balance of trade between Pakistan and European Union which is a major reason that we are charged more on our imports and less is bestowed to us on our exports. This has lead to huge economic and financial crisis in Pakistan since the past few years. The citizens have to put up with payment of international debts and rising prices of fuel and other facilities.

At the current moment, economic and financial sector in Pakistan is still in the process of flourishing. Till Pakistan is not completely stable in the above mentioned sectors, Euro would remain one of the priciest currencies for exchange in Pakistan either you get it exchanged from open market or through a bank.

Today Euro Rate in Pakistan is Rs. 278.5, yesterday rate was Rs. 276.7. The EUR rate in Pakistan PKR changes every hour, we have solved the problem of our users by giving complete history and record of last 30 days.

History of Euro

Looking back at the history of Euro, it emerged as a currency in 1999 after an effort of 20 years to create a single legal currency for all European countries. Most of the countries that were part of Maastricht treaty fixed their currencies to Euro. During that time, other local currencies were not allowed to compete with Euro on a national level. Initially, Euro was just only an electronic currency. It was given the status of a legal cash currency in January 2002. Since its creation, Euro has made European economy stronger with every passing day.

After 2002, local currencies like French Franc, German Mark and Italian Lira became invalid. It was a very important time in Europe’s history as not only Euro became a single valid legal currency but also centralized monetary policy was kick started. In comparison to United States Dollar, Euro’s position in the market has always been fluctuating since the beginning but even then it is high in value then US Dollar and one of the most valued currencies in the world. With time, it has expanded its roots it many financial markets around the globe.

Reserve Currency

Like Dollar, Euro is also a reserve currency which has basically reinforced its position in the global economy. Many international banks keep Euro in excess amount which impacts their exchange rate, makes transactions smoother and helps in paying off debts.

Currently 17 European Countries use Euro as a valid currency that are;

• Italy
• Spain
• Germany
• Luxembourg
• Netherlands
• France
• Austria
• Greece
• Belgium
• Portugal
• Ireland
• Slovania
• Malta
• Cyprus
• Slovakia
• Finland
• Latvia

A lot of tourists visit European countries specifically Spain, Italy and France each year. Exchange rate for Euro has progressively increased over the past few years.

Currency Profile

Euro is the second most dealt with currency after US Dollar. Other than being known as Euro, it is known as Yoyo in Ireland, Leru/ Pavo in Spain, Teuro in German and Ege in Finland. The symbol of Euro is € cent. Its inflation rate is 0.10%. The central bank that regulates Euro internationally is European Central Bank. The coins frequently used are €1, €2, 5cent, 10 cent, 20 cent and 50 cent. Bank notes mostly used are €5, €10, €20, €50 and €100.